With the crypto prices being on fire these days, utilizing exchange is a new way of trading cryptocurrencies. It allows holders to swap one cryptocurrency for another, unlike the conventional way of trading where fiat currencies are traded for one cryptocurrency or another.
By using this form of trade, it has become easier for people to trade tokens and coins which would otherwise not be accepted in regular crypto exchanges. The crypto market is becoming more and more popular with each passing day. People are investing in this new kind of currency because they see the potential in it.
The cryptocurrency business is growing at a faster rate than any other business out there. Because of this, the demand for cryptocurrency exchanges has grown proportionately as well.
What is KuCoin?
KuCoin is a Hong Kong-based cryptocurrency exchange. It was launched on September 15th, 2017, making it one of the newest exchanges in the industry. KuCoin aims to provide users with a secure and convenient platform for trading digital assets. It offers its users a wide array of digital assets for trading. The digital assets currently available on the KuCoin platform include BTC, ETH, NEO, USDT, KCS, DASH, IOTA, SNT and many more.
KuCoin is a fairly new cryptocurrency exchange, with its initial launch in September 2017. It’s based in Hong Kong and it’s run by a company called KuCoin Co., Ltd. The company is led by a CEO named Michael Gan, and its website lists eight other executives, all of whom are based in Hong Kong.
In November 2017, its value rose dramatically and it briefly entered the top 10 exchanges by trading volume, according to CoinMarketCap. On January 5th, 2018, it dropped off the list entirely after falling below $50 million in 24-hour trading volume.
In the last two months of 2017, KuCoin added four coins to their exchange: Siacoin, Bitcoin Cash, Decred, and Litecoin. They also completed transfers of Bitcoin, Ethereum, Lisk and others. In January 2018, they announced that they would be adding more coins to their platform such as Dragonchain, Qtum, Oyster Pearl, and Zilliqa.
Furthermore, Kucoin has a crypto trading bot that can be used without signing up for an account. The bot allows you to set certain triggers and actions for when certain conditions are met.
What is Kucoin’s Edge Over Other Exchanges?
Kucoin Shares Rewards
What sets Kucoin apart from other cryptocurrency exchanges is that it has its own coins, which users can earn through trading on the exchange.
Every day, Kucoin will buy back KCS from users who choose to deposit their KCS holdings in the platform wallet—Kucoin calls it a “KCS awards mechanism.” It’s an interesting twist on the concept of trading fees, as you’re essentially getting rewarded for holding your coins in a place where they can grow.
Another unique feature is the “Kucoin Bonus,” which is awarded based on how much of your holdings are traded over time (in other words, if you do a lot of trading, you’ll get more of the bonus).
Mobile and Desktop App
First to market with a cryptocurrency exchange mobile app and desktop app at launch, Kucoin offers many ways to trade in its app. Users can choose between basic and advanced trading interfaces, depending on their level of experience.
Low Transaction Fees
Kucoin has very low transaction fees compared to most other exchanges. They charge a flat rate of 0.1% per trade, while others can charge up to 1%. They also offer lower fees for larger traders.
KuCoin is a highly secure cryptocurrency exchange that takes security as one of its core values. We have a robust, multi-layer platform infrastructure that ensures maximum protection against cyber-attacks. Our server bank is hosted in various locations; and features fully redundant state-of-the-art physical and virtual servers in different data centers.
Kucoin is extremely secure, boasting advanced multi-level authentication, plus SSL encryption, offline storage and a cryptocurrency wallet. We promptly alert you via phone or email in the event of any suspicious activity that may occur with your KCS coins.
KuCoin offers different incentives to its customers as well as supporters, these include a 50% referral bonus of trading fees earned by the invited user.
Authentication and Verification
KuCoin offers 4-factor authentication, 2-step verification and facial recognition for login security. KuCoin also implements strict policies for user database confidentiality, encryption of all trading data and IP filtering to ensure the safety of users’ assets. KuCoin uses Google Authenticator as its 2-step verification tool for added security.
How To Use Kucoin Exchange
To start using Kucoin, you will need to create an account and deposit some cryptocurrency. If you don’t have any, check out our guides on how to buy Bitcoin or Ethereum with a credit card or bank transfer.
On the bottom left of the screen, you will see a menu where you can select Basic, Advanced and Trade History. If this is your first time using the platform, please start from Basic. In Basic, you can see all of your balance and transactions under “My Assets” as well as your referral bonus under.
You’ll need to enter your email address and create a password on their site. Once you’ve logged in (the first time will also require you to enter your phone number), you’ll be on the main dashboard.
The first thing you’ll want to do is set up 2 factor authentication by clicking on your profile icon at the top right of the screen and selecting “2-Factor Authentication” from the dropdown menu.
The sign-up process takes just a few minutes and is relatively easy. Once you have signed up, you can proceed to deposit funds into your new account. You need to go to “Assets” → “Deposits” → “Bitcoin” or “Ethereum” → “Deposit” using the wallet address from the account you are depositing from.
The minimum deposit amount is 0.1 BTC or 0.01 ETH, there are no fees associated with deposits. After making your deposit you will be able to purchase coins immediately.